Corning CFO Cheers Tax Extensions

Senior Editor

Corning Inc. will get an slight earnings boost starting in the first quarter of this year thanks to provisions in the fiscal cliff deal reached earlier this month, according to the glass and ceramics maker’s chief financial officer.

In particular, the company’s projected 2013 tax rate will be lower than earlier projections due to the extension of the research and development tax credit and an allowance for the tax-free transfer of offshore dividends, said CFO James Flaws.

Nearly across the board, mid-market executives are hiring new employees, buying new technology solutions, acquiring businesses to reach new markets and preparing IPOs, according to a Deloitte survey of more than 500 mid-market executives. But companies are running up against a number of constraints as they seek to expand, particularly in acquiring and retaining skilled talent.